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Healthcare Realty Trust Incorpo (HR) Stock Fundamentals, Analysis & Risk Signals

Health score, competitive moat, risk signals, and key metrics at a glance.

NYSE•Real Estate•REIT - Healthcare Facilities
C
AverageMetricSide Score: 46/100
ProfitabilityProfit5/30
GrowthGrowth14/25
Balance SheetBalance11/25
Cash QualityCash16/20
Price & Volume
Market Cap $7.23B

Healthcare Realty Trust Incorporated is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As of September 30, 2025, the Company was invested in 579 real estate properties in 28 states totaling 33.6 million square feet and had an enterprise value of approximately 11.1 billion dollars, defined as equity market capitalization plus the principal amount of debt less cash. Healthcare Realty Trust Incorporated was incorporated in 1992 and is based in Nashville, United States.

Moat Signals

Competitive analysis based on 60 quarters of fundamental data

Pricing Power

Moderate Moat

Operating margins are positive at ~6.5% on average, but show some variability — pricing power may be sensitive to market conditions.

Competitive Advantage

Weak Moat

ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.

Risk Signals

Data-driven red flags and warnings across 60 quarters

Some Concerns

Margin Pressure

Healthy

Margins are stable or improving at ~9.4% — no sign of cost or pricing stress.

Earnings Quality

Red Flag

FCF consistently trails net income (avg 18.6x) — earnings may be inflated by non-cash items or aggressive accounting.

Leverage Risk

Healthy

D/E ratio is 0.9 — conservative capital structure with low financial risk.

Revenue Decline

Red Flag

Revenue declined in 7 of the last 7 quarters — persistent contraction signals a fundamental problem.

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Share Dilution

Healthy

Shares decreased 6.7% — net buybacks are reducing shares outstanding and boosting per-share value.

Metrics at a Glance

as of March 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$1.16B
6.4%
Q. Revenue
$278.99M
TTM EBITDA
$650.87M
6.1%
TTM Op. Income
$108.89M
141.4%
Q. Op. Income
$31.59M
TTM Net Income
$-201.25M
48.2%
Q. Net Income
$-56,000
EPS
$0
Shares Out.
$347.44M
0.6%
$1.16B in TTM revenue declined 6.4% YoY, reaching $278.99M last quarter. TTM EBITDA of $650.87M and TTM operating income of $108.89M shows growth is flowing through. However, net income is negative at $201.25M — growth is not yet reaching the bottom line. Revenue is contracting — assess whether this is cyclical or structural.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
11.4%
83.4%
EBITDA Margin
57.6%
Op. Margin
11.3%
78.0%
Net Margin
-0.0%
99.9%
Op. margin of 11.3% is up 5.0% YoY — cost efficiency is improving. Net margin at -0.0% and gross margin of 11.4% — earnings take a bigger bite when COGS stays lean..

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
P/S Ratio
6.2x
P/B Ratio
1.6x
P/S of 6.2x and P/B of 1.6x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$9.15B
Cash
$26.23M
Long-Term Debt
$4.10B
Book Value
$4.44B
D/E Ratio
0.9
Debt/EBITDA
25.6
With $9.15B in assets and $4.10B in long-term debt, the D/E of 0.9and book value of $4.44B — shows a conservative capital structure — the company has a strong financial cushion to weather downturns.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$52.88M
TTM Free Cash Flow
$140.00M
31.9%
FCF Margin
12.1%
FCF / Net Income
-0.7
TTM FCF of $140.00M on $52.88M in operating cash flow. The FCF / Net Income ratio of -0.7x shows cash consumption — the business is not yet self-funding.

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Cash Generation

Moderate Moat

6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.

Demand Durability

Weak Moat

Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.